Apicil backs Nalo

APICIL Group, the third largest mutual insurance company in France, has over 90% equity in French fintech startup Nalo following an undisclosed investment round.

Launched in 2018, Nalo offers a robo-advisory service that allows people to save for retirement and certain life projects. It also sells whole life insurance by Generali. The startup says it has reached 400 million in assets under management between its life insurance and retirement savings plans.

“We want to revolutionize the savings ecosystem by creating a digital platform which will enable every French person to invest securely in every one of their projects, while knowing that they benefit from the very best customer experience and customer care, from very competitive fees and from tailor-made financial advisory services.” – Numa Jequier, CEO of Nalo.